Wednesday, November 23, 2016

Malaysian Ringgit tumbles to 1-year low against Singdollar

Since Donald Trump took the United States presidency, the Malaysian ringgit has been Asia's worst-performing currency, and continues to spiral downwards.

At the start of the week, the ringgit sank to it's lowest value against the US dollar — the weakest since October 2015, according to Bloomberg. Yesterday, the Malaysian currency tumbled to a one-year low against the Singapore dollar, where 1 SGD = 3.126 MYR. As of writing, it's 1 SGD = 3.1122 MYR.

Outlook for the Malaysian economy doesn't look so good with the World Bank forecasting growth of less than 5 percent from 2016 to 2018.